Is Morrison, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrison is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Morrison has remained a Seller's Market.

Key Takeaway

Morrison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Morrison, IL

How much do homes in Morrison, IL cost?

Median Sold Price

$128,000

$87/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$4,500(-3.4%)

Key Takeaway

Homes in Morrison have sold for 3.4% less than they did a year ago.

Summary: The median home sold price in Morrison was $128,000 in November 2024, down 3.4% from last year, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $135K$96K
-28.9%
2 $83K$91K
+9.6%
3 $117.4K$145K
+23.5%
4 $175K$129.9K
-25.8%
5+ $273.5K$175K
-36.0%

Summary: Morrison housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.9%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 23.5%, 4 bedroom homes decreased by 25.8%, and 5+ bedroom homes decreased by 36%.

Median Sold Price Compared To Nearby Cities

Mount Pleasant Township
-1.0%
Morrison
-3.4%

Housing Supply in Morrison, IL

How many homes are available in Morrison, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3429-14.7%

Summary: The Morrison real estate market had 29 homes for sale in November 2024, a 14.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 82
-75.0%
3 1614
-12.5%
4 912
+33.3%
5+ 00
0.0%

Summary: The Morrison housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 75%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
105-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Morrison, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.

Summary: A total of 5 homes were sold or pending in Morrison in November 2024, down by 50.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.

Days on Market for Morrison, IL

How long does it take to sell a home in Morrison, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
24 Days6 Days-73.3%

Summary: Homes in Morrison had an average of 6 days on market in Nov 2024, down by 73.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Morrison are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in Morrison; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Morrison, IL

Nearby Markets to Morrison, IL

What housing markets are near Morrison, IL?